Netwealth, a non-institutional platform provider based in Australia, has joined forces with personal wealth portal myprosperity to help advisers better engage with clients.
The partnership will enable advisers using the myprosperity portal to gain access to Netwealth client account investment and portfolio data and track the performance of clients’ superannuation accounts.
Commenting on the alliance, Netwealth joint managing director Matt Heine said: “Netwealth is committed to fostering an open ecosystem for advisors, and myprosperity share that commitment. We work with a large number of advisors who use their service and we are excited to make this integration a reality.”
myprosperity CEO Chris Ridd added: “Given today’s tense debates around the ownership of financial data and advisors’ professional independence, partnering with Netwealth is a crucial step towards creating an open and diversified ecosystem where advisors and their clients can make informed decisions about their future.”
Netwealth reported $15.4bn in funds under administration at the end of December 2017. At present, the company’s platform is used by more than 2000 financial advisers and planners.